Euro tumbles in Asia as attention shifts to Wyoming meeting

Euro tumbles in Asia as attention shifts to Wyoming meeting

On Monday, the common currency dived in Asia because attention shifts to a gathering of key bankers in Wyoming this week just to see whether the ECB is going to start discussing its dial-back initiatives for stimulus in more detail or not.

The currency pair EUR/USD hit 1.1754, decreasing 0.06%. Besides this, AUD/USD reached 0.7930, going down 0.01%. At the same time USD/JPY demonstrated 109.24, soaring 0.05%.

Tracking the US currency’s strength versus a trade-weighted basket of six main currencies, the US dollar index went up 0.04% trading at 93.40.

The previous week on Friday, the evergreen buck inched down versus a basket of the other key currencies because political uncertainty in the USA as well as surging doubts over the prospects for another rate lift by the Fed in 2017 added pressure.

The US currency went down to four month minimums versus the Japanese rival earlier in the day, although pared losses after reports that Steven Bannon, senior White House advisor was leaving his position.

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During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?

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USD starts the week with gains
USD starts the week with gains

Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

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